Investor Ideas Potcasts, Cannabis News and Stocks on the Move; Episode 436 (TSXV: KHRN) (OTC: EDXC)
Delta, Kelowna, BC - July 2, 2020 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today's podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
Investor Ideas Potcasts, Cannabis News and Stocks on the Move; Episode 436 (TSXV:KHRN) (OTC: EDXC)
Today's podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today's podcast we look at a few public company announcements.
Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF), a vertically integrated cannabis leader with core operations in Latin America and Europe, announced that it has signed a distribution deal for its Kuida™ CBD cosmeceutical brand with Red Yellow Red, a leading EU distributor of cosmetic products. Kuida skin and body care products for women will be distributed by Red Yellow Red through four major multinational drug store health and beauty distribution groups in Spain.
"The European skincare market is the largest in the world, and as we scale up our EU activity this agreement immediately expands our Kuida footprint into a €1.5 billion market. Red Yellow Red have a large and compelling distribution network, and a robust sales and education program that aligns with our proven market entry approach to help more consumers integrate Kuida into their daily skincare regimen," comments Tejinder Virk, President, Khiron Europe.
Red Yellow Red is a specialized distributor of cosmetic, beauty, lifestyle and personal wellbeing products operating in Spain and Portugal, with access to 20,000 points of sale through four drug store health and beauty distributor groups. To support Kuida sales and brand image, Red Yellow Red will initiate training of retail staff on the current Kuida portfolio, the benefits of cannabidiol (CBD), as well as the brand's unique CBDERM™ technology.
Further Red Yellow Red information can be found at http://www.redyellowred.es/.
"At Red Yellow Red we look to bring innovative and first to market products to our distribution partners and in turn, consumers. Kuida fits that model and is an established skincare brand with an attractive CBD product line that, supported by our training and education program, can have strong appeal across our Spanish pharmacy network," comments Jose Luis Ganado, Managing Director, Red Yellow Red.
Ikanik Farms, Inc. announced that it has purchased all issued and outstanding shares of Delta 9 Corporation Mexico S.A. de C.V ("D9C"), based in Coyoacan, Mexico. D9C's legal representative is permitted to import and register cannabis seeds for cultivation through the legalized Amparo process. The Company intends to contract-produce for national and international pharmaceutical cannabis and hemp-derived CBD clients.
"I am very excited to welcome D9C and its team of scientific, legal, and regulatory specialists who have been exemplary leaders, shepherding the cannabis legalization process, and providing Ikanik the opportunity to be a 1 of 1 in Mexico", said Brian Baca, CEO of Ikanik Farms, Inc.
D9C is the exclusive Amparo representative to import, cultivate, and produce products derived from cannabis and hemp for national and international markets.
Borja Sanz de Madrid, President of Ikanik International, Inc. further emphasized, "We are proud to participate in this historic moment for Mexico. It will be our honor bringing pharmaceutical cannabis Hecho en Mexico para el mundo"
Upon D9C's legal representative completing the seed importation and registration process, cultivation and facility construction will commence, providing employment opportunities and social support in the communities it serves.
This acquisition marks a significant milestone for the Company, as it continues to grow its multi-national operating presence and prepares to complete a public listing on the Canadian Securities Exchange.
Endexx Corporation (OTC:EDXC), a lifestyle company focused on the intersection of science, compliance, and formulation of innovative phytonutrient-based food and nutritional products, today announced the launch of the Company's newest product line, Phyto-Drops CBD for Pets. The new line complements the PhytoBites soft chews introduced in 2016 to build a strong suite of Pet products.
"We continued to build, research, and develop new products as R&D is rooted in the DNA of our Company," commented Endexx Chief Executive Officer and Chairman, Todd Davis. "Our drops are formulated using all-natural ingredients and flavored with natural oils and no sugar. We are thrilled to bring this product to market as our pet division continues to lead product demand. With the shift in consumer buying preferences amid the pandemic, this product line will initially be available online through our website followed by our wholesale network. Products with all-natural ingredients and no sugar provide assurance of quality and purity for dogs, cats, and their families. Our complete formulations help to improve our customer's and their pet's "Quality of Life". We continue to remain focused on consumer-centered innovation and this product launch is a reflection of our commitment to our customers."
Phyto-Drops CBD for Pets are now available in 30ml and 10ml formats on CBD Unlimited's e-commerce website. CBD Unlimited oils are free from any synthetic additives and each product is lab tested to ensure quality of the product. Phyto-Drops CBD for Pets is formulated for minimal dosing and long-lasting results.
To purchase Phyto-Drops CBD for Pets, please visit https://www.cbdunlimited.com/our-products/buy-cbd/pets/
"These guidelines help clarify how hemp should be treated and operate in the banking space. This is an important move by the US Department of Treasury in support of the American hemp industry," said Hemp, Inc. CEO Bruce Perlowin. "A lot of the hurdles that the hemp industry faces come from stigma and misinformation; in the past that has informed policy. Fortunately, the power and promise of hemp is coming to light in the mainstream and we are gaining lots of support from everyday people, regulatory professionals and policy makers."
The Financial Crimes Enforcement Network's (FinCEN) new guidelines emphasize that hemp businesses must be treated equally. This means that financial institutions are expected to monitor the transactions made by hemp-related businesses as they would for other clients. The FinCEN instructs the financial institutions to follow standard procedures and file a SAR (Suspicious Activity Report) only if they have been made aware of suspicious activity.
According to the FinCEN, suspicious activity could include:
- A customer appears to be engaged in hemp production in a state or jurisdiction in which hemp production remains illegal.
- A customer appears to be using a state-licensed hemp business as a front or pretext to launder money derived from other criminal activity or derived from marijuana-related activity that may not be permitted under applicable law.
- A customer engaged in hemp production seeks to conceal or disguise involvement in marijuana-related business activity.
- The customer is unable or unwilling to certify or provide sufficient information to demonstrate that it is duly licensed and operating consistent with applicable law, or the financial institution becomes aware that the customer continues to operate after a license revocation, or inconsistently with applicable law.
Additionally, FinCEN provided clarification on requirements for businesses that are involved in both hemp and marijuana, stressing the importance of keeping the proceeds of the businesses separate and ensuring that the customer and its financial institution are able to distinguish which proceeds are marijuana-related and which are hemp-related.
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